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Facebook’s Q3 Misses on Revenue and Users

According to its latest financial results on Tuesday, Facebook pulled in impressive earnings, but missed the mark on revenue and active users. For the three-month period between July and September, the social media company reported earnings of $1.76 per share, exceeding estimates of $1.47. But its $13.73 billion in revenue couldn’t quite reach the $13.78 billion analysts estimated. Expectations pegged 1.51 billion for daily active users and 2.29 billion for monthly actives, so Facebook’s reported 1.49 billion daily and 2.27 billion monthly came up short. However, the company attributed the decline to a change in how it calculates users. Naturally, the company would prefer to look at overall user counts instead of drilling down into individual numbers. Daily users across the entirety of its platforms — which include Facebook, WhatsApp, Instagram and Messenger — number 2.6 billion people, up from 2.5 billion, chief executive officer Mark Zuckerberg pointed out. “We’re seeing the way people connect shifting to private messaging and Stories,” Zuckerberg said on the earnings call. “We have great products here that people love, but it will take some time for our business to catch up to our community growth.” Video is also growing dramatically across the apps, he added, referring to Facebook Watch, as well

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